Core Launches First Revenue-Sharing Model for Stablecoin Issuers and Developers

Core Launches First Revenue-Sharing Model for Stablecoin Issuers and Developers

The Core Foundation, the organization behind the Core blockchain, has introduced Rev+, a pioneering revenue-sharing mechanism designed to reshape how stablecoin issuers and developers generate income within the Web3 ecosystem. Positioned as the first protocol-level initiative to directly reward developers, stablecoin issuers, and decentralized autonomous organizations (DAOs) based on user value creation, Rev+ enables projects to earn revenue from user-generated gas fees on their blockchain applications.

Traditionally, developers have depended on launching new cryptocurrencies to finance their projects. Rev+ offers a sustainable alternative by distributing recurring revenue to projects proportional to their contribution to the Core blockchain. Hong Sun, institutional lead at the Core Foundation, emphasized the significance of this shift, noting that stablecoins now account for over one-third of decentralized finance (DeFi) revenue. However, issuers have not historically earned revenue from transaction activity. Rev+ aims to realign incentives so that projects powering Web3 are compensated when their tokens are actively used.

Mechanism and Functionality of Rev+

Core operates as the first Ethereum Virtual Machine (EVM)-compatible Bitcoin staking protocol. Under the Rev+ model, transactions initiated by Core smart contracts—such as stablecoin swaps, collateral movements, or vault usage—will either generate direct payouts or contribute to a revenue-sharing pool for issuers. The distribution of this pool is determined by several metrics, including total transaction count, the number of new unique addresses, notional transaction value, and total transaction fees generated.

Rich Rines, an early contributor to Core DAO, acknowledged that while the revenue pool may be modest at launch, Rev+ establishes a sustainable, usage-based monetization framework designed to expand alongside Core’s network growth.

Regulatory and Market Context

The introduction of Rev+ coincides with increased regulatory scrutiny targeting stablecoin issuers. Tether, the largest stablecoin by market capitalization, is currently under pressure from the recently proposed GENIUS Act, which could compel compliance with new regulatory standards or force its withdrawal from the U.S. market. This evolving regulatory environment presents potential challenges for Core’s revenue-sharing model, as market participants assess the implications of enhanced transparency and compliance requirements.

Market responses to such initiatives have been varied. Some investors view revenue-sharing as a progressive step toward greater transparency and sustainability in stablecoin operations, while others remain cautious amid regulatory uncertainties. Competitive dynamics are also intensifying. Circle, the second-largest stablecoin issuer, experienced a surge in its stock price following the U.S. Senate’s advancement of stablecoin regulation, underscoring the mounting competitive pressure on Core to sustain its market position. Concurrently, firms like Highnote are collaborating with BVNK to provide continuous stablecoin funding, reflecting a rapidly evolving and competitive embedded finance sector.

Industry Perspectives on Collaborative Incentives

Calls for more cooperative economic incentives within the crypto industry have gained momentum. Charles Hoskinson, founder of Cardano, recently criticized the adversarial nature of current tokenomics during Paris Blockchain Week 2025. He argued that the industry must adopt cooperative models to foster sustainable growth, stating, “Instead of picking a fight, what you have to do is you have to find tokenomics and market structure that allows you to be in a cooperative equilibrium.”

Amid regulatory headwinds and accelerating innovation, Core’s Rev+ program stands as a significant experiment in aligning incentives and establishing sustainable revenue streams for projects driving the next generation of decentralized finance.